Ducommun (NYSE:DCO) Sets New 52-Week High – Here’s What Happened
by Renee Jackson · The Cerbat GemDucommun Incorporated (NYSE:DCO – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $117.66 and last traded at $118.0250, with a volume of 3893 shares. The stock had previously closed at $115.02.
Analysts Set New Price Targets
Several research firms have issued reports on DCO. Zacks Research upgraded shares of Ducommun from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Wall Street Zen lowered Ducommun from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 10th. The Goldman Sachs Group boosted their price objective on Ducommun from $117.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Citigroup raised their target price on Ducommun from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ducommun in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.00.
Read Our Latest Research Report on DCO
Ducommun Trading Up 1.7%
The firm has a market cap of $1.81 billion, a P/E ratio of -51.49 and a beta of 1.05. The business’s 50 day moving average is $101.66 and its 200-day moving average is $95.57. The company has a quick ratio of 1.46, a current ratio of 2.04 and a debt-to-equity ratio of 0.33.
Ducommun (NYSE:DCO – Get Free Report) last released its earnings results on Thursday, November 6th. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $212.56 million during the quarter, compared to the consensus estimate of $211.41 million. Ducommun had a negative net margin of 4.29% and a positive return on equity of 7.70%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. As a group, analysts forecast that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.
Insider Activity
In related news, VP Jerry L. Redondo sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $92.86, for a total transaction of $185,720.00. Following the transaction, the vice president directly owned 65,269 shares in the company, valued at $6,060,879.34. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.90% of the company’s stock.
Hedge Funds Weigh In On Ducommun
A number of hedge funds and other institutional investors have recently bought and sold shares of DCO. Cornerstone Planning Group LLC lifted its holdings in shares of Ducommun by 6,725.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 273 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. Traub Capital Management LLC bought a new position in shares of Ducommun during the second quarter worth about $35,000. Financial Consulate Inc. acquired a new stake in shares of Ducommun in the 3rd quarter worth about $48,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Ducommun during the 3rd quarter valued at about $63,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.
Ducommun Company Profile
Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.
Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.